Sep
11
Time Inc.’s Executive Suite Was Where ‘Ideas Go To Die,’ Says CEO Joe Ripp
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New Time Inc. CEO Joe Ripp told roughly 300 employees at a town hall-style meeting Wednesday that the company’s executive suite has been a place “where ideas go to die,” according to staffers who were present.
“If I have my way I’m going to close that damn thing down,” Mr. Ripp said, addressing an audience of managers and executives.
The company, the publisher of magazines such as People and Sports Illustrated, is keenly looking to Mr. Ripp for clues to its uncertain future. Parent company Time Warner plans to spin Time Inc. off into an independent company early next year, and Mr. Ripp last week became the third Time Inc. CEO in three years.
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